CDM to help develop Senegal’s first solar plant with large battery storage

Climate Fund Managers (CFM) has entered into a Joint Development Agreement with Energy Resources Senegal to develop a 30MW solar PV and 15MW/45MWh battery storage system in Niakhar, Senegal.

The project will be Senegal’s first solar plant with a large battery storage system. Once developed, the project represents an opportunity of about $40 million for Climate Investor One’s Construction Equity Fund, the main construction financing vehicle under the management of CFM.  

CFM - a blended finance fund manager - says the project will provide cleaner energy to the grid, displacing some of the more expensive and carbon intensive energy sources. In addition, the project will add base load capacity, improving overall grid stability.